Frandsen Financial in Lonsdale, Minn., has agreed to buy Bank of Zumbrota and Pine Island Bank from Zumbrota Agency.The $2.6 billion-asset Frandsen said in a press release that the deal for the $201 million-asset Bank of Zumbrota and the $115 million-asset Pine Island is expected to close by the end of this year. Frandsen did not disclose the price it will pay. “We look forward to serving their customers and supporting

Nymbus has moved its corporate headquarters to Jacksonville, Fla., to be closer to a large credit union that led a major investment in the technology company earlier this year.Nymbus said in a press release Tuesday that the move from Miami reflects its collaboration with VyStar Credit Union. VyStar, which invested $20 million in the Nymbus CUSO, is also working with the tech company on online and mobile banking platforms. Nymbus plans

Republic Bancorp in Louisville, Ky., has filed a lawsuit against Green Dot after a plan to sell its tax refund solutions business to the prepaid card issuer fell through. The $6.2 billion-asset Republic disclosed in a regulatory filing Tuesday that the deal collapsed due to “undisclosed issues” with Green Dot’s primary regulator. Republic said it believes all the conditions established in the purchase agreement would have been satisfied. The lawsuit was filed

Arvest Bank of Fayetteville, Ark., has agreed to sell 16 branches to five different banks.The $26 billion-asset bank said in a Friday press release that it plans to sell the locations during the first quarter. Magnolia Banking in Magnolia, Ark., agreed to buy nine branches in Arkansas and Oklahoma. Cross County Bank in Wynne, Ark., will buy two Arkansas locations, while FNBC Bank in Ash Flat, Ark., will also acquire a

Regions Financial in Birmingham, Ala., has agreed to buy Sabal Capital Partners, a leading originator of small-balance commercial real estate loans. The $156 billion-asset company said in a press release Monday that it expected to complete the acquisition in the fourth quarter. It did not disclose the price it will pay. Sabal has originated nearly $6 billion in financing. It maintains a $5 billion servicing portfolio. Regions said plans to incorporate Sabal into

Community Bank System in DeWitt, N.Y., has agreed to buy Elmira Savings Bank in New York. The $14.8 billion-asset Community Bank System said in a press release Monday that it will pay $82.8 million in cash for the $648.7 million-asset Elmira. The deal, which is expected to close in the first quarter, priced Elmira at 164% of its tangible book value.Elmira has 12 branches, $551.2 million of deposits and $465.3 million

Dupaco Community Credit Union in Dubuque, Iowa, has agreed to buy Home Savings Bank in Madison, Wis. The $2.6 billion-asset Dupaco said in a press release Friday that it will pay between $23.5 million and $24.3 million in cash for the $183 million-asset Home. The deal is expected to close in the second quarter.Home has two branches. “Our combined organization will reinforce the foundation of a credit union that prioritizes the well-being

Eagle Bancorp Montana in Helena has agreed to buy First Community Bancorp in Glasgow, Mont. The $1.4 billion-asset Eagle said in a press release Friday that it will pay $41.3 million in cash and stock for the $374 million-asset First Community. The deal is expected to close in the fourth quarter.  First Community shareholders will be entitled to a special dividend at closing, based on certain conditions. First Community has nine